Adobe Inc. $ADBE Holdings Decreased by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its holdings in Adobe Inc. by 11% during the 1st quarter, selling 6,068 shares, and now owns 48,949 shares valued at approximately $18.77 million.
• Adobe reported a quarterly earnings per share (EPS) of $5.06, exceeding the analysts' expectations of $4.97, with revenue reaching $5.87 billion, a 10.6% increase from the previous year.
• Several analysts have recently raised their price targets for Adobe, including Bank of America, which increased its target from $424 to $475, and DA Davidson, which set a target of $500.

Panagora Asset Management Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,949 shares of the software company's stock after selling 6,068 shares during the quarter. Panagora Asset Management Inc.'s holdings in Adobe were worth $18,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ADBE. Garde Capital Inc. purchased a new position in shares of Adobe in the 1st quarter worth about $34,000. PFG Advisors raised its holdings in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after purchasing an additional 855 shares during the period. Krane Funds Advisors LLC raised its holdings in shares of Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after purchasing an additional 730 shares during the period. Financial Counselors Inc. raised its holdings in shares of Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after purchasing an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in shares of Adobe in the 1st quarter worth about $305,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Up 0.8%

ADBE stock traded up $2.87 during midday trading on Wednesday, hitting $348.50. 3,005,205 shares of the company's stock were exchanged, compared to its average volume of 3,750,421. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $587.75. The firm has a 50 day moving average price of $362.73 and a 200-day moving average price of $384.96. The stock has a market capitalization of $147.83 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.69 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the business earned $4.48 EPS. Adobe's revenue for the quarter was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research reports. Mizuho cut their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a research note on Wednesday, July 2nd. BMO Capital Markets reiterated an "outperform" rating and issued a $450.00 target price on shares of Adobe in a research note on Friday, June 13th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Finally, Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price for the company. in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $459.52.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.